文章基本信息

标题：Conditions for prosperity and depression of a stochastic R&D model under regime switching
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作者：Mengqing Zhang ; Qimin Zhang
期刊名称：Advances in Difference Equations
印刷版ISSN：1687-1839
电子版ISSN：1687-1847
出版年度：2020
卷号：2020
期号：1
页码：1-23
DOI：10.1186/s13662-020-02633-w
出版社：Hindawi Publishing Corporation
摘要：The stochastic research and development (R&D) model plays an important role in economic growth theories. To explain the growth performance of the economy under regime switching, we first establish sufficient criteria that ensure economic prosperity, nonprosperity and depression in the R&D model disturbed by white and color noise. Then, we determine the threshold between prosperity and depression. Furthermore, we estimate an upper bound of the growth rates of technological progress and capital accumulation in the prosperity case. The results indicate that color noise sensitively impacts the growth performance of the economy in the R&D model. Finally, numerical simulations are conducted to verify our theoretical work.
关键词：Stochastic R&D model;Markov chain;Prosperity and depression in the mean;